Uniswap Labs Acquires NFT Startup Genie

    The world’s largest decentralized alternate protocol Uniswap has acquired the primary NFT market aggregator Genie. Uniswap said they acquired Genie on account of their mission to unlock common possession and alternate.

    Uniswap to develop product line by integrating NFTs

    In a bid to make Uniswap a wonderful platform for customers and builders in Web3, the Decentralized finance protocol Uniswap shall be integrating NFTs into their line of merchandise, they’d additionally combine NFTs into developer APIs and widgets.

    The DeFi protocol in its announcement stated this isn’t their first time getting into the NFTs area asthey had launched Unisocks – a platform for NFT liquidity swimming pools and NFTs backed by actual world belongings – in 2019. It additionally labored on Uniswap v3 NFT which helped pioneer on-chain generative SVGs.

    We see NFTs as one other format for worth within the rising digital financial system—not a separate ecosystem from ERC20s—they usually’re already an necessary gateway to web3. The firm stated within the announcement on its weblog.

    In line with Web3 ethos, Uniswap shall be sharing a number of the worth with historic Genie customers via a USDC airdrop. The airdrop will launch in August and be out there to be claimed for as much as 12 months, in keeping with the corporate.

    Solana NFT market Magic Eden raises $130 million In a funding spherical

    Magic Eden, the present kingpin of the Solana NFT neighborhood, which handles greater than 90% of the ecosystem’s quantity has raised a whooping $130 million in a Series B funding co-led by Greylock and Electrical Capital.

    The spherical which was introduced on Tuesday brings Magic Eden to a $1.6 billion valuation placing it on the identical degree with the Series B of Opensea. Magic Eden beforehand raised a $27 million Series A led by Paradigm, Sequoia and Solana Ventures in March.

    Magic Eden says it plans to make the most of the funds by increasing its main and secondary marketplaces, in addition to discover “multichain opportunities,” in keeping with a press launch.

    CEO of Magic Eden Jack Lu, stated in a press release that they’re conscious NFTs is essentially the most environment friendly option to introduce individuals to the blockchain.



    The offered content material could embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.

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